1. How many properties do you manage? Companies with three or four hundred properties tend to get too busy and your level of service can go down pretty quickly.
2. How many years of experience do you have?
3. Do you have references? Always check a company’s reputation.
4. How do you advertise the properties that you have for rent?
5. What are your maintenance charges? Many companies have a markup of between eight and 10 percent on every little repair issue. We have heard a lot of landlords complain about these costs, so you want to be aware of them.
6. How often do you perform interior inspections? We inspect the interior of the properties we manage every six months.
7. How often do you perform exterior inspections? We do a drive by of properties every other month. We can make sure the tenants are obeying the rules and not doing anything wrong.
8. Do you take calls on the weekends and evenings? If a property manager never calls you back, that’s a problem. You need someone who is accessible.
9. What kind of rent payments do you take? Property managers shouldn’t be waiting for tenants to come in and drop off a check. Everything is electronic now, and ACH rent payments are easy and efficient.
10. What’s the average time it takes to place a tenant? If the answer is over 30 days, something is wrong. Either the properties aren’t in great condition or the rent is too high. In this area, properties are renting in 21 days or less.
These are the most important questions you can ask a local property management company. If you need any help, please contact us at Cape Shore Management.
